Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries SemiLEDs Reports Third Quarter Fiscal Year 2023 Financial Results By: SemiLEDs Corporation via Business Wire July 07, 2023 at 06:00 AM EDT SemiLEDs Corporation (NASDAQ: LEDS), “SemiLEDs” or the “Company,” a developer and manufacturer of LED chips and LED components, today announced its financial results for the third quarter of fiscal year 2023, ended May 31, 2023. Revenue for the third quarter of fiscal 2023 increased to $1.7 million, compared to $1.2 million in the second quarter of fiscal 2023. GAAP net loss attributable to SemiLEDs stockholders for the third quarter of fiscal 2023 increased to $756 thousand, or $(0.15) per diluted share, compared to a net loss of $541 thousand, or $(0.11) per diluted share, in the second quarter of fiscal 2023. GAAP gross margin for the third quarter of fiscal 2023 decreased to 14%, compared to 23% for the second quarter of fiscal 2023. Operating margin for the third quarter of fiscal 2023 increased to negative 58%, compared with negative 61% for the second quarter of fiscal 2023. The Company’s cash and cash equivalents were $3.0 million at May 31, 2023, compared to $3.9 million at the end of the second quarter of fiscal 2023. We expect revenue for the fourth quarter ending August 31, 2023 to be approximately $1.4 million +/- 10%. About SemiLEDs SemiLEDs develops and manufactures LED chips and LED components for general lighting applications, including street lights and commercial, industrial, system and residential lighting, along with specialty industrial applications such as ultraviolet (UV) curing, medical/cosmetic, counterfeit detection, horticulture, architectural lighting and entertainment lighting. SemiLEDs sells blue, white, green and UV LED chips. Forward Looking Statements This press release contains statements that may constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, revenue expectations for the fourth quarter ending August 31, 2023, any statements about historical results that may suggest trends for SemiLEDs’ business; any statements of the plans, the potential impact of the COVID-19 pandemic on our business; strategies and objectives of management for future operations; any statements of expectation or belief regarding recovery of the LED industry, market opportunities and other future events or technology developments; any statements regarding SemiLEDs’ position to capitalize on any market opportunities; and any statements of assumptions underlying any of the foregoing. These forward-looking statements are based on current expectations, estimates, forecasts and projections of future SemiLEDs’ or industry performance based on management’s judgment, beliefs, current trends and market conditions and involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. SemiLEDs’ Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) and other SemiLEDs filings with the SEC (which you may obtain for free at the SEC’s website at http://www.sec.gov) discuss some of the important risks and other factors that may affect SemiLEDs’ business, results of operations and financial condition. SemiLEDs undertakes no intent or obligation to publicly update or revise any of these forward looking statements, whether as a result of new information, future events or otherwise, except as required by law. SEMILEDS CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidated Balance Sheets (In thousands of U.S. dollars) May 31, February 28, 2023 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 3,041 $ 3,859 Restricted cash and cash equivalents 81 82 Accounts receivable (including related parties), net 981 530 Inventories 4,207 4,259 Prepaid expenses and other current assets 160 145 Total current assets 8,470 8,875 Property, plant and equipment, net 3,360 3,630 Operating lease right of use assets 1,456 1,505 Intangible assets, net 98 95 Investments in unconsolidated entities 913 921 Other assets 286 170 TOTAL ASSETS $ 14,583 $ 15,196 LIABILITIES AND EQUITY CURRENT LIABILITIES: Current installments of long-term debt $ 5,072 $ 5,071 Accounts payable 544 508 Accrued expenses and other current liabilities 2,690 2,587 Other payable to related parties 1,298 1,221 Operating lease liabilities, current 144 144 Total current liabilities 9,748 9,531 Long-term debt, excluding current installments 1,493 1,626 Operating lease liabilities, less current portion 1,312 1,361 Total liabilities 12,553 12,518 Commitments and contingencies EQUITY: SemiLEDs stockholders’ equity Common stock — — Additional paid-in capital 184,092 183,951 Accumulated other comprehensive income 3,658 3,691 Accumulated deficit (185,764 ) (185,008 ) Total SemiLEDs stockholders' equity 1,986 2,634 Noncontrolling interests 44 44 Total equity 2,030 2,678 TOTAL LIABILITIES AND EQUITY $ 14,583 $ 15,196 SEMILEDS CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidated Statements of Operations (In thousands of U.S. dollars and shares, except per share data) Three Months Ended May 31, February 28, 2023 2023 Revenues, net $ 1,679 $ 1,152 Cost of revenues 1,438 890 Gross profit 241 262 Operating expenses: Research and development 372 295 Selling, general and administrative 850 669 Total operating expenses 1,222 964 Loss from operations (981 ) (702 ) Other income (expenses): Interest expenses, net (67 ) (65 ) Other income, net 295 229 Foreign currency transaction loss, net (3 ) (7 ) Total other income, net 225 157 Loss before income taxes (756 ) (545 ) Income tax expense — — Net loss (756 ) (545 ) Less: Net gain (loss) attributable to noncontrolling interests — (4 ) Net loss attributable to SemiLEDs stockholders $ (756 ) $ (541 ) Net loss per share attributable to SemiLEDs stockholders: Basic and diluted $ (0.15 ) $ (0.11 ) Shares used in computing net loss per share attributable to SemiLEDs stockholders: Basic and diluted 4,897 4,866 View source version on businesswire.com: https://www.businesswire.com/news/home/20230707242542/en/Contacts Christopher Lee Chief Financial Officer SemiLEDs Corporation +886-37-586788 investor@semileds.com Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. 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SemiLEDs Reports Third Quarter Fiscal Year 2023 Financial Results By: SemiLEDs Corporation via Business Wire July 07, 2023 at 06:00 AM EDT SemiLEDs Corporation (NASDAQ: LEDS), “SemiLEDs” or the “Company,” a developer and manufacturer of LED chips and LED components, today announced its financial results for the third quarter of fiscal year 2023, ended May 31, 2023. Revenue for the third quarter of fiscal 2023 increased to $1.7 million, compared to $1.2 million in the second quarter of fiscal 2023. GAAP net loss attributable to SemiLEDs stockholders for the third quarter of fiscal 2023 increased to $756 thousand, or $(0.15) per diluted share, compared to a net loss of $541 thousand, or $(0.11) per diluted share, in the second quarter of fiscal 2023. GAAP gross margin for the third quarter of fiscal 2023 decreased to 14%, compared to 23% for the second quarter of fiscal 2023. Operating margin for the third quarter of fiscal 2023 increased to negative 58%, compared with negative 61% for the second quarter of fiscal 2023. The Company’s cash and cash equivalents were $3.0 million at May 31, 2023, compared to $3.9 million at the end of the second quarter of fiscal 2023. We expect revenue for the fourth quarter ending August 31, 2023 to be approximately $1.4 million +/- 10%. About SemiLEDs SemiLEDs develops and manufactures LED chips and LED components for general lighting applications, including street lights and commercial, industrial, system and residential lighting, along with specialty industrial applications such as ultraviolet (UV) curing, medical/cosmetic, counterfeit detection, horticulture, architectural lighting and entertainment lighting. SemiLEDs sells blue, white, green and UV LED chips. Forward Looking Statements This press release contains statements that may constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, revenue expectations for the fourth quarter ending August 31, 2023, any statements about historical results that may suggest trends for SemiLEDs’ business; any statements of the plans, the potential impact of the COVID-19 pandemic on our business; strategies and objectives of management for future operations; any statements of expectation or belief regarding recovery of the LED industry, market opportunities and other future events or technology developments; any statements regarding SemiLEDs’ position to capitalize on any market opportunities; and any statements of assumptions underlying any of the foregoing. These forward-looking statements are based on current expectations, estimates, forecasts and projections of future SemiLEDs’ or industry performance based on management’s judgment, beliefs, current trends and market conditions and involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. SemiLEDs’ Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) and other SemiLEDs filings with the SEC (which you may obtain for free at the SEC’s website at http://www.sec.gov) discuss some of the important risks and other factors that may affect SemiLEDs’ business, results of operations and financial condition. SemiLEDs undertakes no intent or obligation to publicly update or revise any of these forward looking statements, whether as a result of new information, future events or otherwise, except as required by law. SEMILEDS CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidated Balance Sheets (In thousands of U.S. dollars) May 31, February 28, 2023 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 3,041 $ 3,859 Restricted cash and cash equivalents 81 82 Accounts receivable (including related parties), net 981 530 Inventories 4,207 4,259 Prepaid expenses and other current assets 160 145 Total current assets 8,470 8,875 Property, plant and equipment, net 3,360 3,630 Operating lease right of use assets 1,456 1,505 Intangible assets, net 98 95 Investments in unconsolidated entities 913 921 Other assets 286 170 TOTAL ASSETS $ 14,583 $ 15,196 LIABILITIES AND EQUITY CURRENT LIABILITIES: Current installments of long-term debt $ 5,072 $ 5,071 Accounts payable 544 508 Accrued expenses and other current liabilities 2,690 2,587 Other payable to related parties 1,298 1,221 Operating lease liabilities, current 144 144 Total current liabilities 9,748 9,531 Long-term debt, excluding current installments 1,493 1,626 Operating lease liabilities, less current portion 1,312 1,361 Total liabilities 12,553 12,518 Commitments and contingencies EQUITY: SemiLEDs stockholders’ equity Common stock — — Additional paid-in capital 184,092 183,951 Accumulated other comprehensive income 3,658 3,691 Accumulated deficit (185,764 ) (185,008 ) Total SemiLEDs stockholders' equity 1,986 2,634 Noncontrolling interests 44 44 Total equity 2,030 2,678 TOTAL LIABILITIES AND EQUITY $ 14,583 $ 15,196 SEMILEDS CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidated Statements of Operations (In thousands of U.S. dollars and shares, except per share data) Three Months Ended May 31, February 28, 2023 2023 Revenues, net $ 1,679 $ 1,152 Cost of revenues 1,438 890 Gross profit 241 262 Operating expenses: Research and development 372 295 Selling, general and administrative 850 669 Total operating expenses 1,222 964 Loss from operations (981 ) (702 ) Other income (expenses): Interest expenses, net (67 ) (65 ) Other income, net 295 229 Foreign currency transaction loss, net (3 ) (7 ) Total other income, net 225 157 Loss before income taxes (756 ) (545 ) Income tax expense — — Net loss (756 ) (545 ) Less: Net gain (loss) attributable to noncontrolling interests — (4 ) Net loss attributable to SemiLEDs stockholders $ (756 ) $ (541 ) Net loss per share attributable to SemiLEDs stockholders: Basic and diluted $ (0.15 ) $ (0.11 ) Shares used in computing net loss per share attributable to SemiLEDs stockholders: Basic and diluted 4,897 4,866 View source version on businesswire.com: https://www.businesswire.com/news/home/20230707242542/en/Contacts Christopher Lee Chief Financial Officer SemiLEDs Corporation +886-37-586788 investor@semileds.com
SemiLEDs Corporation (NASDAQ: LEDS), “SemiLEDs” or the “Company,” a developer and manufacturer of LED chips and LED components, today announced its financial results for the third quarter of fiscal year 2023, ended May 31, 2023. Revenue for the third quarter of fiscal 2023 increased to $1.7 million, compared to $1.2 million in the second quarter of fiscal 2023. GAAP net loss attributable to SemiLEDs stockholders for the third quarter of fiscal 2023 increased to $756 thousand, or $(0.15) per diluted share, compared to a net loss of $541 thousand, or $(0.11) per diluted share, in the second quarter of fiscal 2023. GAAP gross margin for the third quarter of fiscal 2023 decreased to 14%, compared to 23% for the second quarter of fiscal 2023. Operating margin for the third quarter of fiscal 2023 increased to negative 58%, compared with negative 61% for the second quarter of fiscal 2023. The Company’s cash and cash equivalents were $3.0 million at May 31, 2023, compared to $3.9 million at the end of the second quarter of fiscal 2023. We expect revenue for the fourth quarter ending August 31, 2023 to be approximately $1.4 million +/- 10%. About SemiLEDs SemiLEDs develops and manufactures LED chips and LED components for general lighting applications, including street lights and commercial, industrial, system and residential lighting, along with specialty industrial applications such as ultraviolet (UV) curing, medical/cosmetic, counterfeit detection, horticulture, architectural lighting and entertainment lighting. SemiLEDs sells blue, white, green and UV LED chips. Forward Looking Statements This press release contains statements that may constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, revenue expectations for the fourth quarter ending August 31, 2023, any statements about historical results that may suggest trends for SemiLEDs’ business; any statements of the plans, the potential impact of the COVID-19 pandemic on our business; strategies and objectives of management for future operations; any statements of expectation or belief regarding recovery of the LED industry, market opportunities and other future events or technology developments; any statements regarding SemiLEDs’ position to capitalize on any market opportunities; and any statements of assumptions underlying any of the foregoing. These forward-looking statements are based on current expectations, estimates, forecasts and projections of future SemiLEDs’ or industry performance based on management’s judgment, beliefs, current trends and market conditions and involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. SemiLEDs’ Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) and other SemiLEDs filings with the SEC (which you may obtain for free at the SEC’s website at http://www.sec.gov) discuss some of the important risks and other factors that may affect SemiLEDs’ business, results of operations and financial condition. SemiLEDs undertakes no intent or obligation to publicly update or revise any of these forward looking statements, whether as a result of new information, future events or otherwise, except as required by law. SEMILEDS CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidated Balance Sheets (In thousands of U.S. dollars) May 31, February 28, 2023 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 3,041 $ 3,859 Restricted cash and cash equivalents 81 82 Accounts receivable (including related parties), net 981 530 Inventories 4,207 4,259 Prepaid expenses and other current assets 160 145 Total current assets 8,470 8,875 Property, plant and equipment, net 3,360 3,630 Operating lease right of use assets 1,456 1,505 Intangible assets, net 98 95 Investments in unconsolidated entities 913 921 Other assets 286 170 TOTAL ASSETS $ 14,583 $ 15,196 LIABILITIES AND EQUITY CURRENT LIABILITIES: Current installments of long-term debt $ 5,072 $ 5,071 Accounts payable 544 508 Accrued expenses and other current liabilities 2,690 2,587 Other payable to related parties 1,298 1,221 Operating lease liabilities, current 144 144 Total current liabilities 9,748 9,531 Long-term debt, excluding current installments 1,493 1,626 Operating lease liabilities, less current portion 1,312 1,361 Total liabilities 12,553 12,518 Commitments and contingencies EQUITY: SemiLEDs stockholders’ equity Common stock — — Additional paid-in capital 184,092 183,951 Accumulated other comprehensive income 3,658 3,691 Accumulated deficit (185,764 ) (185,008 ) Total SemiLEDs stockholders' equity 1,986 2,634 Noncontrolling interests 44 44 Total equity 2,030 2,678 TOTAL LIABILITIES AND EQUITY $ 14,583 $ 15,196 SEMILEDS CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidated Statements of Operations (In thousands of U.S. dollars and shares, except per share data) Three Months Ended May 31, February 28, 2023 2023 Revenues, net $ 1,679 $ 1,152 Cost of revenues 1,438 890 Gross profit 241 262 Operating expenses: Research and development 372 295 Selling, general and administrative 850 669 Total operating expenses 1,222 964 Loss from operations (981 ) (702 ) Other income (expenses): Interest expenses, net (67 ) (65 ) Other income, net 295 229 Foreign currency transaction loss, net (3 ) (7 ) Total other income, net 225 157 Loss before income taxes (756 ) (545 ) Income tax expense — — Net loss (756 ) (545 ) Less: Net gain (loss) attributable to noncontrolling interests — (4 ) Net loss attributable to SemiLEDs stockholders $ (756 ) $ (541 ) Net loss per share attributable to SemiLEDs stockholders: Basic and diluted $ (0.15 ) $ (0.11 ) Shares used in computing net loss per share attributable to SemiLEDs stockholders: Basic and diluted 4,897 4,866 View source version on businesswire.com: https://www.businesswire.com/news/home/20230707242542/en/